Key Economic Indicators – June 24, 2013

  • Housing starts  increased 6.8% in May, following a 14.8% decrease in the previous month..
  • May existing home sales increased 4.2% to an annualized rate of 5,180 thousand units. The median sales price of existing houses sold was $208.0 thousand, 15.4% above May 2012.
  • The housing market index of National Association of Home Builders (NAHB) and Wells Fargo increased 8 points to 52 in June.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of June 20th showed average fixed mortgage rates moving slightly lower.
  • Mortgage applications decreased 3.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 14th.
  • The consumer price index increased 0.1% in May, while the core index increased 0.2%. The consumer price index increased 1.4% for the 12-month period ending in May, while the core index rose 1.7%.
  • The advance figure for initial claims for unemployment insurance increased 18 thousand to 354 thousand in the week ending June 15th.
  • Real average hourly earnings for all employees decreased 0.2% in May.
  • The June 2013 Empire State Manufacturing Survey indicated that the conditions for New York manufacturers improved modestly.
  • The Philadelphia FED business outlook survey for June reported increased manufacturing activity.
  • The Conference Board index of leading economic indicators increased 0.1% in May, while the  coincident index increased 0.2%.
  • The Federal Open Market Committee decided to keep its target for the federal funds rate at  0 to 0.25%.

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